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What's the appraisal cycle in EY GDS?
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It really doesn’t go by size. I’ve known solos (with employees) who made more than the average biglaw partner - especially on the plaintiffs’ side. On the defense side, it’s a little bit harder because generally smaller firms have lower rates, but then the attorneys also keep more of the fees. I know many small firm lawyers who have made as much as biglaw partners. It mostly depends on how business oriented the attorneys are.
Agreed. Most attorneys are awful business people and financially never make it. If you have the drive and acumen you can make a ton of money. I'm in a smaller plaintiffs firm, which to be fair has a storied history for where I am, and they make gobs of money; multiples of 7 figures. On the other hand, the partners at the ID firms make very little. Just depends.
Really depends on practice and their marketing efforts. I know a plaintiff shop where they’re doing north of $2m+ in revenue a month, and the name partner is making $5-$7m+ a year from that. I also know small shops with 5-10 lawyers doing estate planning making $300k-$400k a year
So far, 5 is not enough. That said, I prefer my quality of life to that of a big firm partner, but I'm not compensated like a big firm equity partner, or even close.
What is generally considered “big law partner money”?
Yeah it’s 1-4 million